The UK firm said an independent report by Petrotech Engineering showed proven and probable (2P) reserves of 24.47Mb at the Platanillo field.
Chile's LPG imports rose 15% in January, even as imports of other fossil fuels were down.
Power generation on the coal and natural gas-dependent northern SING grid fell 17% in February.
The BASF subsidiary cited low costs in Argentina as driving growth in output and reserves, even through the current low oil price environment.
Brazil's state-run oil company said it would pump an additional US$600mn into exploration and production projects over the next five years after posting a fourth quarter profit.
The number of attacks on the country's second largest oil duct year-to-date is running at a much higher rate than in 2016.
Authorities recently concluded talks to ship products to Brazil and Argentina.